The Fund invests in small-sized U.S. companies with significant growth potential. Diversified.
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The Fund invests in small-sized U.S. companies with significant growth potential. Diversified.
As of Sep 29, 2023
NAV | $90.55 |
---|---|
Daily Change ($) | -$1.16 |
Daily Change (%) | -1.27% |
YTD | 6.55% |
Inception Date | 12/31/1994 |
Overall (out of 522 Funds)
Ratings based on risk-adjusted returns as of 07/31/2023
Category:US Fund Mid-Cap Growth
Portfolio Manager
years of exp 53
years at baron 41
Portfolio Manager
years of exp 20
years at baron 17
1Source: FactSet SPAR.
For the period ended 6/30/2023, the Baron Growth Fund received a 4-Star Overall Morningstar Rating™, 4-Star 3-Year Rating, 4-Star 5-Year Rating, and 3-Star 10-Year Rating. The Morningstar Ratings are based on the Morningstar Risk-Adjusted Return measures of 519, 519, 486, and 379 funds in the category, respectively. This Morningstar Rating is for the Retail share class only; other classes may have different performance characteristics.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar classifies funds as being large-cap, mid-cap, or small-cap based on the market capitalization of the fund’s stock holdings; and as value, blend, or growth based on the value-growth orientation of the stock holdings. The nine possible combinations of these characteristics correspond to the nine squares of the Morningstar Style Box–size is displayed along the vertical axis and style is displayed along the horizontal axis. Please note that the style boxes indicate the Fund’s equity style, not necessarily its Morningstar Category.
© 2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its affiliates or content providers; (2) may not be copied, adapted or distributed; (3) is not warranted to be accurate, complete or timely; and (4) does not constitute advice of any kind, whether investment, tax, legal or otherwise. User is solely responsible for ensuring that any use of this information complies with all laws, regulations and restrictions applicable to it. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
MORNINGSTAR IS NOT RESPONSIBLE FOR ANY DELETION, DAMAGE, LOSS OR FAILURE TO STORE ANY PRODUCT OUTPUT, COMPANY CONTENT OR OTHER CONTENT.
as of 09/29/23
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$90.55 | -$1.16 | -1.27% | -4.22% | -3.72% | 6.55% |
as of 08/31/23
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BGRFX - Baron Growth Fund | 0.52% | 11.25% | 16.08% | 7.03% | 8.83% | 11.18% | 12.77% | 1.30% | 1.30% |
Russell 2000 Growth Index | -0.77% | 12.68% | 6.78% | 2.67% | 2.46% | 8.17% | 7.57% | ||
S&P 500 Index | 1.57% | 18.73% | 15.94% | 10.52% | 11.12% | 12.81% | 10.36% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
as of 06/30/23
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BGRFX - Baron Growth Fund | 2.64% | 10.67% | 21.72% | 11.27% | 10.89% | 11.58% | 12.83% | 1.30% | 1.30% |
Russell 2000 Growth Index | 7.05% | 13.55% | 18.53% | 6.10% | 4.22% | 8.83% | 7.65% | ||
S&P 500 Index | 8.74% | 16.89% | 19.59% | 14.60% | 12.31% | 12.86% | 10.36% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
1Not annualized.
Expense ratios are as of the fiscal year ended 9/30/2020
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
as of 08/31/23
Year | Baron Growth Fund | Russell 2000 Growth Index | S&P 500 Index |
---|---|---|---|
2022 | -22.60% | -26.36% | -18.11% |
2021 | 19.84% | 2.83% | 28.71% |
2020 | 32.72% | 34.63% | 18.40% |
2019 | 40.14% | 28.48% | 31.49% |
2018 | -2.92% | -9.31% | -4.38% |
2017 | 27.04% | 22.17% | 21.83% |
2016 | 6.04% | 11.32% | 11.96% |
2015 | -4.31% | -1.38% | 1.38% |
2014 | 4.40% | 5.60% | 13.69% |
2013 | 38.32% | 43.30% | 32.39% |
2012 | 16.43% | 14.59% | 16.00% |
2011 | 1.24% | -2.91% | 2.11% |
2010 | 24.01% | 29.09% | 15.06% |
2009 | 34.24% | 34.47% | 26.46% |
2008 | -39.18% | -38.54% | -37.00% |
2007 | 6.59% | 7.05% | 5.49% |
2006 | 15.50% | 13.35% | 15.79% |
2005 | 5.71% | 4.15% | 4.91% |
2004 | 26.61% | 14.31% | 10.88% |
2003 | 31.75% | 48.54% | 28.68% |
2002 | -12.29% | -30.26% | -22.06% |
2001 | 12.67% | -9.23% | -11.93% |
2000 | -4.59% | -22.43% | -9.10% |
1999 | 44.71% | 43.09% | 21.04% |
1998 | 0.10% | 1.23% | 28.58% |
1997 | 31.07% | 12.95% | 33.36% |
1996 | 27.72% | 11.26% | 22.96% |
1995 | 52.54% | 31.04% | 37.58% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Record Date | Ex Date | Payable Date | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
---|---|---|---|---|---|---|---|---|---|
07/24/2023 | 07/25/2023 | 07/26/2023 | $0.0000 | $0.0000 | $0.0000 | $0.0074 | $0.0074 | $98.01 | |
12/07/2022 | 12/08/2022 | 12/09/2022 | $0.0000 | $0.0000 | $0.0000 | $5.1188 | $5.1188 | $88.55 | -22.60% |
11/22/2021 | 11/23/2021 | 11/24/2021 | $0.0000 | $0.0000 | $0.0000 | $8.9714 | $8.9714 | $114.20 | 19.84% |
07/28/2021 | 07/29/2021 | 07/30/2021 | $0.0000 | $0.0000 | $0.0000 | $0.0080 | $0.0080 | $116.89 | 19.84% |
11/23/2020 | 11/24/2020 | 11/25/2020 | $0.0000 | $0.0000 | $0.0000 | $4.8465 | $4.8465 | $98.13 | 32.72% |
11/25/2019 | 11/26/2019 | 11/27/2019 | $0.0000 | $0.0000 | $0.0000 | $3.0450 | $3.0450 | $82.10 | |
11/28/2018 | 11/29/2018 | 11/30/2018 | $0.0000 | $0.0000 | $0.0000 | $5.1285 | $5.1285 | $69.36 | -2.92% |
11/27/2017 | 11/28/2017 | 11/29/2017 | $0.0000 | $0.0000 | $0.0000 | $7.9018 | $7.9018 | $67.65 | 27.04% |
11/28/2016 | 11/29/2016 | 11/30/2016 | $0.0000 | $0.0000 | $0.0000 | $7.6377 | $7.6377 | $60.21 | 6.04% |
12/02/2015 | 12/03/2015 | 12/04/2015 | $0.0000 | $0.0000 | $0.0000 | $6.0253 | $6.0253 | $64.16 | -4.31% |
12/01/2014 | 12/02/2014 | 12/03/2014 | $0.0000 | $0.0000 | $0.0000 | $3.2241 | $3.2241 | $70.91 | 4.40% |
11/25/2013 | 11/26/2013 | 11/27/2013 | $0.0000 | $0.0000 | $0.1318 | $1.5930 | $1.7248 | $70.57 | 38.32% |
07/08/2013 | 07/09/2013 | 07/10/2013 | $0.0720 | $0.0000 | $0.0000 | $0.0000 | $0.0720 | $63.70 | 38.32% |
12/26/2012 | 12/27/2012 | 12/28/2012 | $0.1050 | $0.0000 | $0.0000 | $0.0000 | $0.1050 | $53.17 | 16.43% |
11/28/2012 | 11/29/2012 | 11/30/2012 | $0.0000 | $0.0000 | $0.0000 | $5.5920 | $5.5920 | $53.47 | 16.43% |
11/28/2011 | 11/29/2011 | 11/30/2011 | $0.0000 | $0.0000 | $0.0000 | $0.8250 | $0.8250 | $49.15 | 1.24% |
05/27/2009 | 05/28/2009 | 05/29/2009 | $0.0000 | $0.0000 | $0.0000 | $0.0400 | $0.0400 | $33.08 | 34.24% |
07/16/2008 | 07/17/2008 | 07/18/2008 | $0.0000 | $0.0000 | $0.0000 | $0.0120 | $0.0120 | $44.67 | -39.18% |
12/19/2007 | 12/20/2007 | 12/21/2007 | $0.0000 | $0.0000 | $0.0000 | $2.4970 | $2.4970 | $50.63 | 6.59% |
11/17/2006 | 11/20/2006 | 11/21/2006 | $0.0000 | $0.0000 | $0.0000 | $2.5370 | $2.5370 | $49.53 | 15.50% |
11/21/2005 | 11/22/2005 | 11/23/2005 | $0.0000 | $0.0000 | $0.0000 | $2.0540 | $2.0540 | $45.93 | 5.71% |
11/14/2001 | 11/15/2001 | 11/16/2001 | $0.0000 | $0.0000 | $0.2800 | $1.3580 | $1.6380 | $27.89 | 12.67% |
11/15/2000 | 11/16/2000 | 11/17/2000 | $0.0000 | $0.0000 | $0.0000 | $3.1900 | $3.1900 | $27.73 | -4.59% |
10/27/1999 | 10/28/1999 | 10/29/1999 | $0.0000 | $0.0000 | $0.0000 | $1.8830 | $1.8830 | $27.45 | 44.71% |
12/27/1998 | 12/28/1998 | 12/29/1998 | $0.0350 | $0.0000 | $0.0000 | $0.0000 | $0.0350 | $24.75 | 0.10% |
12/26/1997 | 12/29/1997 | 12/30/1997 | $0.0170 | $0.0000 | $0.0000 | $0.0560 | $0.0730 | $24.23 | 31.07% |
12/26/1996 | 12/27/1996 | 12/30/1996 | $0.0910 | $0.0000 | $0.1550 | $0.0090 | $0.2550 | $18.73 | 27.72% |
12/26/1995 | 12/27/1995 | 12/28/1995 | $0.0370 | $0.0000 | $0.1050 | $0.0000 | $0.1420 | $14.91 | 52.54% |
as of 06/30/23
3 Years | 5 Years | 10 Years | Since Inception | |
---|---|---|---|---|
Standard Deviation (%) | 21.85 | 23.53 | 18.38 | 18.23 |
Sharpe Ratio | 0.45 | 0.40 | 0.58 | 0.58 |
Alpha (%) | 5.80 | 6.94 | 3.88 | 6.82 |
Beta | 0.88 | 0.90 | 0.85 | 0.72 |
R-Squared (%) | 82.07 | 87.99 | 85.00 | 80.00 |
Tracking Error (%) | 9.64 | 8.49 | 7.75 | 10.29 |
Information Ratio | 0.54 | 0.79 | 0.35 | 0.50 |
Upside Capture (%) | 99.73 | 100.00 | 90.69 | 85.26 |
Downside Capture (%) | 81.85 | 79.92 | 76.59 | 64.80 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Growth Fund's(BGRFX) benchmark (Russell 2000 Growth Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $90.55 |
---|---|
Daily Change ($) | -$1.16 |
Daily Change (%) | -$1.16 |
MTD | -4.22% |
QTD | -3.72% |
YTD | 6.55% |
BGRFX - Baron Growth Fund | Russell 2000 Growth Index | S&P 500 Index | |
---|---|---|---|
QTD1 | 0.52% | -0.77% | 1.57% |
YTD1 | 11.25% | 12.68% | 18.73% |
1 Year | 16.08% | 6.78% | 15.94% |
3 Years | 7.03% | 2.67% | 10.52% |
5 Years | 8.83% | 2.46% | 11.12% |
10 Years | 11.18% | 8.17% | 12.81% |
Since Inception | 12.77% | 7.57% | 10.36% |
Expense Ratio2 - Gross | 1.30% | ||
Expense Ratio2 - Net | 1.30% |
*As of 08/31/23
*Annualized as of 08/31/23
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
BGRFX - Baron Growth Fund | Russell 2000 Growth Index | S&P 500 Index | |
---|---|---|---|
QTD1 | 2.64% | 7.05% | 8.74% |
YTD1 | 10.67% | 13.55% | 16.89% |
1 Year | 21.72% | 18.53% | 19.59% |
3 Years | 11.27% | 6.10% | 14.60% |
5 Years | 10.89% | 4.22% | 12.31% |
10 Years | 11.58% | 8.83% | 12.86% |
Since Inception | 12.83% | 7.65% | 10.36% |
Expense Ratio2 - Gross | 1.30% | ||
Expense Ratio2 - Net | 1.30% |
*As of 06/30/23
*Annualized as of 08/31/23
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
as of 06/30/23
3 Years | 5 Years | 10 Years | Since Inception | |
---|---|---|---|---|
Standard Deviation (%) | 21.85 | 23.53 | 18.38 | 18.23 |
Sharpe Ratio | 0.45 | 0.40 | 0.58 | 0.58 |
Alpha (%) | 5.80 | 6.94 | 3.88 | 6.82 |
Beta | 0.88 | 0.90 | 0.85 | 0.72 |
R-Squared (%) | 82.07 | 87.99 | 85.00 | 80.00 |
Tracking Error (%) | 9.64 | 8.49 | 7.75 | 10.29 |
Information Ratio | 0.54 | 0.79 | 0.35 | 0.50 |
Upside Capture (%) | 99.73 | 100.00 | 90.69 | 85.26 |
Downside Capture (%) | 81.85 | 79.92 | 76.59 | 64.80 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Growth Fund's(BGRFX) benchmark (Russell 2000 Growth Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 08/31/23
Year | Baron Growth Fund | Russell 2000 Growth Index | S&P 500 Index |
---|---|---|---|
2022 | -22.60% | -26.36% | -18.11% |
2021 | 19.84% | 2.83% | 28.71% |
2020 | 32.72% | 34.63% | 18.40% |
2019 | 40.14% | 28.48% | 31.49% |
2018 | -2.92% | -9.31% | -4.38% |
2017 | 27.04% | 22.17% | 21.83% |
2016 | 6.04% | 11.32% | 11.96% |
2015 | -4.31% | -1.38% | 1.38% |
2014 | 4.40% | 5.60% | 13.69% |
2013 | 38.32% | 43.30% | 32.39% |
2012 | 16.43% | 14.59% | 16.00% |
2011 | 1.24% | -2.91% | 2.11% |
2010 | 24.01% | 29.09% | 15.06% |
2009 | 34.24% | 34.47% | 26.46% |
2008 | -39.18% | -38.54% | -37.00% |
2007 | 6.59% | 7.05% | 5.49% |
2006 | 15.50% | 13.35% | 15.79% |
2005 | 5.71% | 4.15% | 4.91% |
2004 | 26.61% | 14.31% | 10.88% |
2003 | 31.75% | 48.54% | 28.68% |
2002 | -12.29% | -30.26% | -22.06% |
2001 | 12.67% | -9.23% | -11.93% |
2000 | -4.59% | -22.43% | -9.10% |
1999 | 44.71% | 43.09% | 21.04% |
1998 | 0.10% | 1.23% | 28.58% |
1997 | 31.07% | 12.95% | 33.36% |
1996 | 27.72% | 11.26% | 22.96% |
1995 | 52.54% | 31.04% | 37.58% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 9/30/2022.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Record Date | 07/24/2023 | 12/07/2022 | 11/22/2021 | 07/28/2021 | 11/23/2020 | 11/25/2019 | 11/28/2018 | 11/27/2017 | 11/28/2016 | 12/02/2015 | 12/01/2014 | 11/25/2013 | 07/08/2013 | 12/26/2012 | 11/28/2012 | 11/28/2011 | 05/27/2009 | 07/16/2008 | 12/19/2007 | 11/17/2006 | 11/21/2005 | 11/14/2001 | 11/15/2000 | 10/27/1999 | 12/27/1998 | 12/26/1997 | 12/26/1996 | 12/26/1995 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ex Date | 07/25/2023 | 12/08/2022 | 11/23/2021 | 07/29/2021 | 11/24/2020 | 11/26/2019 | 11/29/2018 | 11/28/2017 | 11/29/2016 | 12/03/2015 | 12/02/2014 | 11/26/2013 | 07/09/2013 | 12/27/2012 | 11/29/2012 | 11/29/2011 | 05/28/2009 | 07/17/2008 | 12/20/2007 | 11/20/2006 | 11/22/2005 | 11/15/2001 | 11/16/2000 | 10/28/1999 | 12/28/1998 | 12/29/1997 | 12/27/1996 | 12/27/1995 |
Payable Date | 07/26/2023 | 12/09/2022 | 11/24/2021 | 07/30/2021 | 11/25/2020 | 11/27/2019 | 11/30/2018 | 11/29/2017 | 11/30/2016 | 12/04/2015 | 12/03/2014 | 11/27/2013 | 07/10/2013 | 12/28/2012 | 11/30/2012 | 11/30/2011 | 05/29/2009 | 07/18/2008 | 12/21/2007 | 11/21/2006 | 11/23/2005 | 11/16/2001 | 11/17/2000 | 10/29/1999 | 12/29/1998 | 12/30/1997 | 12/30/1996 | 12/28/1995 |
Income | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0720 | $0.1050 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0350 | $0.0170 | $0.0910 | $0.0370 |
Return of Capital | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Short-Term Capital Gain | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.1318 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.2800 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.1550 | $0.1050 |
Long-Term Capital Gain | $0.0074 | $5.1188 | $8.9714 | $0.0080 | $4.8465 | $3.0450 | $5.1285 | $7.9018 | $7.6377 | $6.0253 | $3.2241 | $1.5930 | $0.0000 | $0.0000 | $5.5920 | $0.8250 | $0.0400 | $0.0120 | $2.4970 | $2.5370 | $2.0540 | $1.3580 | $3.1900 | $1.8830 | $0.0000 | $0.0560 | $0.0090 | $0.0000 |
Total | $0.0074 | $5.1188 | $8.9714 | $0.0080 | $4.8465 | $3.0450 | $5.1285 | $7.9018 | $7.6377 | $6.0253 | $3.2241 | $1.7248 | $0.0720 | $0.1050 | $5.5920 | $0.8250 | $0.0400 | $0.0120 | $2.4970 | $2.5370 | $2.0540 | $1.6380 | $3.1900 | $1.8830 | $0.0350 | $0.0730 | $0.2550 | $0.1420 |
Re-Invest NAV | $98.01 | $88.55 | $114.20 | $116.89 | $98.13 | $82.10 | $69.36 | $67.65 | $60.21 | $64.16 | $70.91 | $70.57 | $63.70 | $53.17 | $53.47 | $49.15 | $33.08 | $44.67 | $50.63 | $49.53 | $45.93 | $27.89 | $27.73 | $27.45 | $24.75 | $24.23 | $18.73 | $14.91 |
Calendar-Yr Return | -22.60% | 19.84% | 19.84% | 32.72% | -2.92% | 27.04% | 6.04% | -4.31% | 4.40% | 38.32% | 38.32% | 16.43% | 16.43% | 1.24% | 34.24% | -39.18% | 6.59% | 15.50% | 5.71% | 12.67% | -4.59% | 44.71% | 0.10% | 31.07% | 27.72% | 52.54% |
as of 06/30/23
Baron Growth Fund | Russell 2000 Growth Index | |
---|---|---|
Net Assets | $7.77 billion | |
# of Issuers / % of Net Assets | 43 / 98.8% | |
Turnover (3 Year Average) | 1.05% | |
Active Share | 99.2% | |
Median Market Cap | $7.01 billion | $1.26 billion |
Weighted Average Market Cap | $18.80 billion | $3.31 billion |
EPS Growth (3-5 year forecast) | 18.0% | 17.9% |
Price/Earnings Ratio (trailing 12-month) | 25.2 | 18.1 |
Price/Book Ratio | 3.8 | 3.7 |
Price/Sales Ratio | 4.6 | 1.6 |
The Net Assets include all share classes combined.
Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.
as of 08/31/23
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
MSCI Inc.MSCI Inc. (MSCI) provides investment decision support tools to global investment institutions. |
Financials | 10.5% | |
Arch Capital Group Ltd.Arch Capital Group Ltd. (ACGL) is a Bermuda-based insurance company providing property & casualty insurance, reinsurance, and mortgage insurance. |
Financials | 8.9% | |
Gartner, Inc.Gartner, Inc. (IT) is the leading independent provider of research and advisory services for IT, HR, sales, finance, and marketing leaders. |
Information Technology | 6.8% | |
FactSet Research Systems Inc.FactSet Research Systems Inc. (FDS) provides financial information to the global investment community. |
Financials | 6.7% | |
Vail Resorts, Inc.Vail Resorts, Inc. (MTN) is the largest ski resort operator in North America. It owns 40 resorts in the U.S., Canada, and Australia, including Vail and Breckenridge in Colorado, Whistler Blackcomb in Canada, and Stowe in Vermont. Its RockResorts brand offers luxury ski lodging properties. |
Consumer Discretionary | 5.8% | |
CoStar Group, Inc.CoStar Group, Inc. (CSGP) is the leading provider of information and marketing services to the commercial real estate industry. |
Real Estate | 5.4% | |
Kinsale Capital Group, Inc.Kinsale Capital Group, Inc. (KNSL) is a property and casualty insurer focused exclusively on the excess and surplus (E&S) lines market, which includes risks that are unique or difficult to place in the standard insurance market. |
Financials | 5.1% | |
Iridium Communications Inc.Iridium Communications Inc. (IRDM), using a constellation of low earth-orbiting satellites, provides global mobile voice and data communications services where terrestrial options are limited. Its hosted solutions offer an augmentation for GPS and advanced plane tracking capabilities. |
Communication Services | 4.9% | |
Choice Hotels International, Inc.Choice Hotels International, Inc. (CHH) is one of the largest hotel franchisors in the world, with brands in the economy, midscale, and upscale segments. Its franchise contracts are long term, with many as long as 20 years. Brands include Quality Inn, Comfort Inn, Cambria Suites, Ascend and Radisson. |
Consumer Discretionary | 4.8% | |
ANSYS, Inc.ANSYS, Inc. (ANSS) is a market leader offering simulation tools used mostly for product development. Companies use simulation software to test and optimize real-world forces on increasingly complex designs without a physical model, driving improving design, cost reduction, and shorter time to market. |
Information Technology | 4.1% | |
Total |
63.1% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 06/30/23
Name | Sector | % of Net Assets |
---|---|---|
MSCI Inc. |
Financials | 9.1% |
Arch Capital Group Ltd. |
Financials | 8.7% |
Gartner, Inc. |
Information Technology | 6.8% |
Vail Resorts, Inc. |
Consumer Discretionary | 6.5% |
Iridium Communications Inc. |
Communication Services | 6.3% |
FactSet Research Systems Inc. |
Financials | 6.2% |
CoStar Group, Inc. |
Real Estate | 5.9% |
Kinsale Capital Group, Inc. |
Financials | 4.8% |
Choice Hotels International, Inc. |
Consumer Discretionary | 4.5% |
ANSYS, Inc. |
Information Technology | 4.3% |
Primerica, Inc. |
Financials | 3.8% |
Gaming and Leisure Properties, Inc. |
Real Estate | 3.4% |
IDEXX Laboratories, Inc. |
Health Care | 3.4% |
Bio-Techne Corporation |
Health Care | 3.1% |
West Pharmaceutical Services, Inc. |
Health Care | 2.4% |
Morningstar, Inc. |
Financials | 2.3% |
Marriott Vacations Worldwide Corporation |
Consumer Discretionary | 2.0% |
PENN Entertainment, Inc. |
Consumer Discretionary | 1.5% |
Cohen & Steers, Inc. |
Financials | 1.4% |
Bright Horizons Family Solutions, Inc. |
Consumer Discretionary | 1.3% |
Mettler-Toledo International Inc. |
Health Care | 1.2% |
Alexandria Real Estate Equities, Inc. |
Real Estate | 1.1% |
Trex Company, Inc. |
Industrials | 1.0% |
Red Rock Resorts, Inc. - Cl. A |
Consumer Discretionary | 1.0% |
Guidewire Software, Inc. |
Information Technology | 0.9% |
The Carlyle Group Inc. |
Financials | 0.7% |
Altair Engineering Inc. |
Information Technology | 0.7% |
Douglas Emmett, Inc. |
Real Estate | 0.7% |
Houlihan Lokey, Inc. |
Financials | 0.6% |
FIGS, Inc. |
Health Care | 0.6% |
Krispy Kreme, Inc. |
Consumer Discretionary | 0.5% |
Boyd Gaming Corporation |
Consumer Discretionary | 0.4% |
Essent Group Ltd. |
Financials | 0.3% |
Neogen Corp. |
Health Care | 0.3% |
Moelis & Company |
Financials | 0.2% |
Littelfuse, Inc. |
Information Technology | 0.2% |
Farmers Business Network, Inc., Series F |
Materials | 0.2% |
Northvolt AB, Series E1 |
Industrials | 0.2% |
Farmers Business Network, Inc. - Series G Preferred |
Materials | 0.1% |
Clearwater Analytics Holdings, Inc. |
Information Technology | 0.1% |
Velo3D, Inc. |
Industrials | 0.1% |
Dechra Pharmaceuticals PLC |
Health Care | 0.1% |
Marel hf. |
Industrials | 0.1% |
American Assets Trust, Inc. |
Real Estate | 0.0% |
As of 08/31/23
As of 08/31/23
Colors of Sub-Industry bars correspond to the GICS sector chart.
Quarterly as of 06/30/23
Top Contributors | Average Weight | Contribution |
---|---|---|
CoStar Group, Inc. | 5.27% | 1.44% |
Kinsale Capital Group, Inc. | 4.39% | 0.99% |
Arch Capital Group Ltd. | 8.71% | 0.81% |
Vail Resorts, Inc. | 6.47% | 0.57% |
Gartner, Inc. | 6.55% | 0.54% |
Quarterly as of 06/30/23
Top Detractors | Average Weight | Contribution |
---|---|---|
MSCI Inc. | 9.92% | -1.84% |
PENN Entertainment, Inc. | 1.70% | -0.37% |
FactSet Research Systems Inc. | 6.46% | -0.24% |
Gaming and Leisure Properties, Inc. | 3.58% | -0.21% |
Mettler-Toledo International Inc. | 1.32% | -0.21% |
Source: FactSet PA.
02/08/23
In a February 7, 2023 interview, Baron Capital CEO Ron Baron discusses investing for the long term in a volatile market.
12/12/22
Forbes interviews Baron Capital CEO Ron Baron about his time-tested approach to long-term investing in growth stocks.
06/22/22
In a June 22, 2022 interview with Kiplinger, Ron Baron, chairman, CEO, and portfolio manager at Baron Capital, breaks down what he looks for in growth companies, what he emphasizes to his portfolio managers and analysts, and his top stocks for the long run. Read the full Kiplinger article.
06/22/22
Kiplinger columnist Andrew Tanzer speaks with our executive team on our long-term, fundamental, active approach to growth investing. Read the full article on Kiplinger.
04/06/22
In an April 7, 2022 interview on CNBC Squawk Box, CEO Ron Baron explains why he is still a fan of Elon Musk and his companies, and why he plans to stay invested in his top holdings in Baron Partners Fund and Baron Focused Growth Fund.
09/14/21
In a September 14, 2021 interview with David Rubenstein, Ron Baron talks about his early days of investing, investment principles for long-term growth, and Tesla’s growth potential. Ron, who is founder and CEO of Baron Capital, manages Baron Growth Fund, Baron Partners Fund, Baron Focused Growth Fund, and Baron WealthBuilder Fund. Watch the full Bloomberg News video.
09/02/21
Business Insider featured Baron Capital Founder and CEO Ron Baron and portfolio manager Alex Umansky in a September 2, 2021, article, “A complete guide to the world's best stock pickers, their mutual fund strategies, and their most lucrative bets.” Read the full article on Business Insider.(Subscription required outside the U.S.)
03/12/21
WOWS sat down with Ron Baron to talk about his investment principles and certain investment opportunities throughout his career that have led to Baron Capital’s long-term growth. Ron, who is founder and CEO of Baron Capital, manages Baron Growth Fund, Baron Partners Fund, Baron Focused Growth Fund, and Baron WealthBuilder Fund.
02/08/21
In the February 2021 issue of Citywire, Baron Capital founder and CEO Ron Baron talks about finding businesses that are “changing the world and changing the way we live.”
12/09/20
In a December 9, 2020 interview with Business Insider, Baron Capital CEO Ron Baron talks about the evolution of his investment process, lessons and mistakes of his career, and the biggest opportunities he sees in the market today.
SAI | 01/27/23 |
---|---|
Prospectus | 01/27/23 |
Summary Prospectus | 01/27/23 |
Fact Sheet | 06/30/23 |
Baron Investment Funds Trust Annual Financial Report | 09/30/22 |
Baron Investment Funds Trust Semi-Annual Financial Report | 03/31/23 |
2Q23 BIFT NPORT | 06/30/23 |
4Q22 BIFT NPORT | 12/31/22 |
Investors should consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus and summary prospectuses contain this and other information about the Funds. You may obtain them from the Funds’ distributor, Baron Capital, Inc., by calling 1-800-99BARON or visiting www.BaronFunds.com. Please read them carefully before investing.
Risks: Specific risks associated with investing in smaller companies include that the securities may be thinly traded and more difficult to sell during market downturns. Even though the Fund is diversified, it may establish significant positions where the Adviser has the greatest conviction. This could increase volatility of the Fund’s returns.
The Fund may not achieve its objectives.
Definitions (provided by BAMCO, Inc.): The indexes are unmanaged. The Russell 2000® Growth Index measures the performance of small-sized U.S. companies that are classified as growth and the S&P 500 Index of 500 widely held large cap U.S. companies. All rights in the FTSE Russell Index (the “Index”) vest in the relevant LSE Group company which owns the Index. Russell® is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. The indexes and the Fund include reinvestment of dividends, net of withholding taxes, which positively impact the performance results. The indexes are unmanaged. Index performance is not Fund performance; one cannot invest directly into an index.
Definitions (provided by BAMCO, Inc.): Standard Deviation: measures the degree to which a fund’s performance has varied from its average performance over a particular time period. The greater the standard deviation, the greater a fund’s volatility (risk). Sharpe Ratio: is a risk-adjusted performance statistic that measures reward per unit of risk. The higher the Sharpe ratio, the better a fund’s risk adjusted performance. Alpha: measures the difference between a fund’s actual returns and its expected performance, given its level of risk as measured by beta. Beta: measures a fund’s sensitivity to market movements. The beta of the market is 1.00 by definition. R-Squared: measures how closely a fund’s performance correlates to the performance of the benchmark index, and thus is a measurement of what portion of its performance can be explained by the performance of the index. Values for R-Squared range from 0 to 100, where 0 indicates no correlation and 100 indicates perfect correlation. Tracking Error: measures how closely a fund’s return follows the benchmark index returns. It is calculated as the annualized standard deviation of the difference between the fund and the index returns. Information Ratio: measures the excess return of a fund divided by the amount of risk the fund takes relative to the benchmark index. The higher the information ratio, the higher the excess return expected of the fund, given the amount of risk involved. Upside Capture: explains how well a fund performs in time periods where the benchmark’s returns are greater than zero. Downside Capture: explains how well a fund performs in time periods where the benchmark’s returns are less than zero
Definitions (provided by Baron Capital, Inc.): EPS Growth Rate (3-5 Year): indicates the long-term forecasted EPS growth of the companies in the portfolio, calculated using the weighted average of the available 3-to-5 year forecasted growth rates for each of the stocks in the portfolio provided by Factset Estimates. The EPS Growth rate does not forecast the Fund’s performance. Price/ Earnings Ratio (trailing 12-months): is a valuation ratio of a company’s current share price compared to its actual earnings per share over the last twelve months. Price/Book Ratio: is a ratio used to compare a company’s stock price to its tangible assets, and it is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. Price/Sales Ratio: is a valuation ratio of a stock’s price relative to its past performance. It represents the amount an investor is willing to pay for a dollar generated from a particular company’s operations. Price/Sales is calculated by dividing a stock’s current price by its revenue per share for the last 12 months. Weighted Harmonic Average: is a calculation that reduces the impact of extreme observation on the aggregate calculation by weighting them based on their size in the fund. Active Share is a term used to describe the share of a portfolio’s holdings that differ from that portfolio’s benchmark index. It is calculated by comparing the weight of each holding in the Fund to that holding’s weight in the benchmark. Positions with either a positive or negative weighting versus the benchmark have Active Share. An Active Share of 100% implies zero overlap with the benchmark. Active Share was introduced in 2006 in a study by Yale academics, M. Cremers and A. Petajisto, as a measure of active portfolio management.
The prospective performance of the companies discussed herein is based on our internal analysis and reflect our opinions only. We cannot promise future returns and our opinions are a reflection of our best judgment at the time of publication. Our views are not intended as recommendations or investment advice to any person and are subject to change at any time based on market and other conditions and Baron has no obligation to update them. Investing in the stock market is always risky. Current and future portfolio holdings in the Baron Funds are subject to risk.
One year turnover information to the most recent quarter and average market cap (unweighted) is available upon request.
GICS sector/industry group/industry/sub-industry levels are sourced from the Global Industry Classification Standard (GICS®), jointly developed and exclusively owned by MSCI Inc. and S&P Dow Jones Indices. All GICS data is provided “as is” with no warranties. All GICS structure changes that have occurred since 2016 have been applied retroactively in historical holdings-based analyses, including performance attribution. The Adviser may have reclassified/classified certain securities in or out of a sub-industry within a sector. Such reclassifications are not supported by S&P or MSCI.
© Baron 2023 All rights reserved
Investment Products: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED
BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).